How to industries help yo enhance people's standard of living?state two points plz give the right answer i am in class 7
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Answer:
hey here is your answerr
Explanation:Small Scale Industries have always played an important role in the economic development of the country. The following are the merits of Small Scale Industries:
1. Potential for large employment
Small Scale Industries have potential to create employment opportunities on a massive scale. They are labor intensive in character. They use more labor than other factors of production. They can be set up in short time and can provide employment opportunities to more number of people. This is important for a labor abundant country like India.
2. Requirement of less capital
Small Scale Industries require less capital when compared to large scale industries. India is a capital scarce country and therefore Small Scale Industries are more suitable in the Indian context. They can be started and run by small entrepreneurs who have limited capital resources